Research Article
IPO Pricing, Investor Behavior, and IPO Underpricing of High-Tech Companies: Evidence from SSE STAR Market and Nasdaq Market
Table 10
Net effect of IPO underpricing decomposition in different industries of the STAR Market (NE).
| | Group | Mean (%) | Std (%) | Q1 (%) | Q2 (%) | Q3 (%) |
| | Information technology | 19.57 | 12.16 | 11.16 | 15.66 | 24.76 | | Public utility | 14.54 | — | 14.54 | 14.54 | 14.54 | | Medical care | 21.01 | 13.62 | 9.75 | 16.63 | 27.75 | | Consumer discretionary | 15.69 | 6.47 | 10.39 | 14.51 | 18.32 | | Industry | 18.44 | 10.48 | 11.08 | 15.74 | 22.56 | | Daily consumption | 20.48 | — | 20.48 | 20.48 | 20.48 | | Material science | 20.06 | 11.32 | 10.67 | 17.62 | 26.68 | | Energy | 14.54 | — | 14.54 | 14.54 | 14.54 |
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